HC Deb 31 May 1938 vol 336 c1826
46. Mr. Emery

asked the Chancellor of the Exchequer whether, in view of the ample credit balance in favour of Germany on Anglo-German trade, he will, for the protection of British tax revenue arising from post-War commercial loans granted by British investors for the restoration of Germany and Austria, set up an Anglo-German-Austrian exchange clearing, to end the default of cash service by Germany on her obligations to British subjects and to prevent default on Austrian obligations?

The Under-Secretary of State for Foreign Affairs (Mr. Butler)

I have been asked to reply. I am not at present able to add anything to the reply which I gave to my hon. Friend the Member for North Newcastle-on-Tyne (Sir N. Grattan-Doyle) on 23rd May.

Commander Locker-Lampson

Does not this involve a very serious repudiation on the part of Germany?